EOS (EOS)

The exchange rate of one EOS at 13:36 UTC is 0.7924$

Chart | Average rate

EOS is a project created by experienced developers gathered around the “Block.One” company, which deals with IT solutions based on blockchain technology. The organisation raised funds to develop the project through an ICO platform. When the ICO was launched, the price was 99 cents (USD) per EOS unit. The collection lasted almost for 12 months until May 31, 2018.

During this time, a truly record-breaking sum of USD 4.2 billion was raised. Initially, the tokens purchased by investors (ERC20) were based on the Ethereum blockchain. However, token holders were later required to register their funds with EOS as the “old” ERC20 tokens no longer had any value. This was a rather complicated process that had some delays. As a result, the EOS network only went live in mid-2018.

EOS characteristics

EOS is a decentralised operating system that is used to program decentralised applications (dApps) and smart contracts. Thus, in some aspects EOS resembles Ethereum but there are important differences between the two.

EOS specification:

- EOS is based on open source documentation.

- The delegated proof-of-stake algorithm is used.

- There is no mining process.

- Transactions are validated by EOS token holders.

- There are no transaction fees.

- EOS provides very high scalability (number of transactions at 15,000 per second).

- The block time is only 3 seconds.

- Lack of full decentralisation.

The price in 2018, at its peak, was over $22 which implied a roughly forty-fold increase over the October 2017 price. Then the price suffered an equally steep decline. Another strong rise was recorded in May 2021, when the price exceeded $15.

EOS summary

It's worth to remark that the EOS network cannot be considered fully decentralised in its current form. The network is not sufficiently distributed and for this there is a network governance model. There is an arbitrary instance that in case of disputes can react and settle them. Of course, it's an element that cannot be seen in fully decentralised cryptocurrencies.

Besides, the blockchain producer reserves the right to freeze certain addresses and the possibility of removing a wallet with no transactions made for 3 years (in this case the funds are transferred to auctions). Whatever the case, EOS is considered a serious competitor to Ethereum.